Press Mentions
TrueUSD to launch on Avalanche blockchain
In The Block: “US dollar liquidity is vital to thriving DeFi ecosystems, and we’re excited to bring one of the most trusted and widely-used stablecoins onto Avalanche,” says John Wu, president of Ava Labs.
An Avalanche of Innovation, Ava Labs Wants to Sweep up DeFi and Traditional Finance
“Structured finance on the blockchain will enable anyone to build creative assets in a transparent manner. In 2008, not many people knew what was in these structured instruments, which led to an abundance of risk. With blockchain, anyone involved in the network will know what’s happening.”
Blockchain project Avalanche raises $42 million in a public token sale
“It’s clear that the market was craving a project of this caliber. The success and velocity of the #Avalanche sale is a testament to the quality of our project, and the impact it can have on both institutional and decentralized finance.”
Avalanche Raises $42 Million in Less Than 4.5 Hours
AVA Labs, the team behind Avalanche, an open-source platform for launching decentralized applications in a highly-scalable ecosystem, recently raised $42M in a 4.5 hour-long token sale last Wednesday. The sale marks one of the largest ICO’s out of the U.S. since 2017.
CryptoPotato reached out to John Wu, President of AVA Labs, who said:
“Slow speeds and high transaction fees have hampered the growth of DeFi. […] No other blockchain project has the combined expertise of Wall Street veterans and leading technologists of Ava Labs. The Avalanche technology will bring scalability and high transaction speeds that will make using blockchain for financial applications more compelling for Wall Street and mainstream audiences.”
Not Just a Pretty Name: Blockchain Creating Real Value in Traditional Industries
John Wu, the president of AVA Labs, told Cointelegraph that the Deloitte report confirms a growing body of research that highlights the increasing adoption of blockchain and digital assets. Wu stressed that companies that are more proactive in exploring the technology could stand to gain a lot more in the coming years:
“Institutions and individuals need to be best equipped to manage financial risks, protect investments, and even grow our assets when the next crisis hits. Widespread adoption of blockchain technology is a significant stepping stone in building a new system robust enough to cope with the challenges that lie ahead, and will reward innovators that take action today. This dramatic and rapid evolution of market structure toward decentralization is rapidly leaving the ‘ifs,’ and becoming a ‘when.’”
Initial Doubts about Blockchain or DLT’s Usefulness are “Fading” As Fintech Businesses See it As “Integral”: Report
John Wu, President of AVA Labs recently told Crowdfund Insider:
“The Deloitte Report is yet another affirmation in the growing body of research that underlines industry adoption of blockchain technology and digital assets…. As enterprises and institutions begin to consider how we will rebuild the global financial system following this pandemic, incremental progress is a luxury that we no longer have. Institutions and individuals need to be best equipped to manage financial risks, protect investments, and even grow our assets when the next crisis hits.”
US Financial Giant Fidelity, with $2.46 Trillion in Assets, States that a Third of Institutional Investors Own Crypto Assets
Digital assets are gaining in favorability and appeal amongst institutional investors, with almost 80 percent of investors surveyed finding something appealing about the asset class. In a comprehensive survey of almost 800 institutional investors across the U.S. and Europe, 36 percent of respondents say they are currently invested in digital assets, and 6 out of 10 believe digital assets have a place in their investment portfolio. These and other findings from a Fidelity Digital Assets survey cast an in-depth light on a class of investors who have widely been expected to lead the broad adoption of digital assets.
John Wu, President at AVA Labs commented:
“This research makes it clear that institutions now have the expertise, tools, and economic incentive to take action and invest in cryptocurrencies and digital assets. First and foremost, institutional investors have made tremendous progress in sorting the facts from fiction across the cryptocurrency ecosystem, and now have a firm understanding of the real-world value and potential of the crypto asset class.
AVA launches public testnet for blockchain platform
The AVA platform is positioned to redefine open finance by enabling decentralized finance (DeFi) applications to be more expressive and to scale with global demand. Powered by the cutting-edge Avalanche consensus protocol, AVA allows anyone to create both public and private smart-contract-enabled blockchains that interoperate. AVA is designed to be backward-compatible with out-of-the-box support for existing Ethereum-based DeFi applications. Migrating decentralized applications to AVA grants open finance the power to deliver its promise to a mainstream audience.
John Wu, President of AVA Labs said, “AVA has the potential to become the global issuance platform for all digital assets, and this is possible only because of its unique architectural model.”
AVA initiates university blockchain hackathon with $50K in prizes
“This hackathon is just the first of many to come as part of our AVA-X program of grants, education, and engagement designed to fuel and foster moonshots on the AVA platform,” says John Wu, President of AVA Labs. “It has taken a lot of work getting to this point, but now the real fun starts as developers across the world can dive into the code and create real projects of their own.”